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News release

ST. LOUIS, MO

Panattoni Development Co. Announces 770K SF Spec Building in St. Louis

JLL Represents Ownership, Sees Strong Demand for Additional Space


ST. LOUIS, MO – JULY 28, 2015 — Panattoni Development Company, Inc. is starting construction on a 769,500 square-foot speculative industrial building in the Lakeview Commerce Center in the St. Louis market, announced JLL, the leasing agent for the building.

The construction is a sign of continued health in the St. Louis market and a demand for high quality distribution space. The building is expandable to 1.3 million square feet and includes top of the line amenities, including 36-foot clear ceiling heights. The building will also include a 10 year tax abatement, which ultimately results in lower operating costs.

JLL’s Terry Stieve, managing director of industrial services, and Katie Haywood, vice president, are representing ownership in the development. Kadean Construction will be the general contractor and the design team will include HDA Architects, Alper Audi and Clayton Engineering. There currently are three buildings in the park, totalling 2.6 million square feet. Tenants in the park include Spectrum Brands, World Wide Technology, OHL and JF Electric.

“Lakeview Commerce Center has been a strong performer and continues to showcase the dominant position Panattoni has in this market,” Stieve said. “In this newest spec building they’ll be leveraging the strength of the market—with no vacancy and an absence of competitive properties—and developing a state-of-the-art facility that is in great demand by today’s warehouse and distribution users.”

Building completion is expected by year-end.

Lakeview Commerce Center, located in Madison County, is accessible from two interstate highways, I-255 and I-270. The center provides quick access to surrounding transportation corridors, public transportation and a robust labor pool. There are two colleges within a mile of the park. 

The center is just 15 miles from the St. Louis side of the market and one of the few regions in the country with convenient access to the primary transportation modes—road, rail, water and air. This creates a unique environment with some of the lowest shipping costs in the country.

About Panattoni Development Company, Inc.
Panattoni Development Company, Inc. is a privately held, full-service development company founded in 1986. The firm has completed in excess of 200 million square feet of commercial projects worldwide. Panattoni has developed industrial, office and flex facilities in 278 cities located in 29 states and nine countries. The firm is headquartered in Newport Beach, California and maintains offices throughout the United States, Canada and Europe.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.